October 2018 Newsletter

Please click on the following link to view our monthly accounting/tax newsletter for October 2018:

October 2018

We would like to highlight the following articles in this month’s newsletter:-

Claiming work-related expenses: ATO guides and toolkits – This year the ATO has launched its biggest ever education campaign to help taxpayers get their tax returns right. The main driver of the campaign is to raise awareness to deductions allowed and not allowed for taxpayers. The ATO is releasing guides & toolkits for a large number of occupations, covering deductions such as car, clothing, travel, working from home, and self-education expenses. In summary, the ATO are cracking down on deductions claimed – hence call us if you have any queries.

12-month extension of $20,000 instant write off – We confirm that the small business $20,000 instant asset write off bill has now passed through Parliament. In summary, eligible small businesses will get an immediate tax deduction for business assets costing less than $20,000 for this financial year also (ie, up to 30 June 2019).

If you have any queries in regards to your tax and accounting matters, please do not hesitate to contact us to discuss further.